Thames Ventures VCT 2 plc Publication Of Healthcare Prospectus
13 Oktober 2022 - 6:35PM
UK Regulatory
TIDMD467
Thames Ventures VCT 2 plc ("the Company")
LEI: 21380035MV1VRYEXPR95
13 October 2022
Publication of Healthcare Prospectus
The Company has today issued a prospectus (comprising a
Securities Note, Registration Document and Summary) (the
"Healthcare Prospectus") relating to offers for subscription
("Offers") by the Company to raise up to GBP10 million (with an
over-allotment facility for up to a further GBP15 million)
Healthcare Shares of 0.1p each following the approval of the
Healthcare Prospectus by the Financial Conduct Authority.
The maximum number of shares that may be allotted under the
Offers (including the over-allotment facility and shares to be
allotted to management pursuant to performance incentive
arrangements) is 40 million Healthcare Shares.
Smaller Related Party Transaction
Under the terms of the sponsor and promotion agreement
("Promotion Agreement"), the Company will pay the Healthcare
Promoter, Downing LLP, a fee in relation to monies subscribed under
the Offers (which could total up to GBP25 million if the
over-allotment facility is fully utilised): of 3.0% where
intermediary commission is payable or the application is direct, or
0% otherwise ("Promoter's Fee"). In addition, a trail commission of
0.25% per annum of the Net Asset Value ("NAV") of the Shares
subscribed under the Offer will be payable to the Promoter, from
which it will be responsible for paying trail commission to
eligible intermediaries, with any excess reimbursed to the Company.
Out of the Promoter's Fee, the Promoter will be responsible for
paying all the costs of the Offers.
Downing LLP, the Healthcare Promoter is also the investment
manager to the Company in respect of the Healthcare Share pool and
is a related party of the Company for the purposes of the Listing
Rules. The fees referred to above constitute a smaller related
party transaction for the purposes of the Listing Rules and, as
such, Listing Rule 11.1.10 applies. The Board considers the fees to
be in line with market practice.
The Offers will open for applications on at 1 pm on 26 October
2022 and will close at 12 noon on 5 April 2023 for the 2022/2023
tax year and 3.00 pm on 31 May 2023 for the 2023/2024 tax year, or
earlier if the Offers are fully subscribed. The Board of the
Company reserves the right to close the Offer earlier, or to extend
the Offer (to no later than 30 September 2023).
The Healthcare Prospectus has been approved by the Financial
Conduct Authority and will shortly be available to view at the
online viewing facility of the National Storage Mechanism at the
following website address:
https://www.globenewswire.com/Tracker?data=SIM-h3Ar0gU-aqthkjZfCCXMu1gCxQfpO4NZ-kJYkRXjw1X03qzb1555E5CUa1Ri608zV-zsk1ZZiErx-q3O0Uu1XCIxkB1Mo3KnOmTrX5KlYu_xhmbzDEE7K49CVLxdt64CPKjZ_c1pdhnNUj6tGQ==
https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
Copies of the Healthcare Prospectus and are available, free of
charge from the Company's registered office, St. Magnus House, 3
Lower Thames Street, London EC3R 6HD and on Downing's website at
https://www.globenewswire.com/Tracker?data=J9ieav_IZ8d7BYBTuHwncftbr2WS3qcpiIx_iabMBHlAcwg0RMepBTwgI7HxKw-A7NImztOWFALMnGTuSdGnp1eQsSm2mBYP8SOwCDeQ28ziKfMzo3XRK5tZ0I5Pkx20XbT4eqmqmuUk8cd1dXiW89mJimb7g_oEmbks1jv1PY4=
www.downing.co.uk/existing-investor/thames-ventures-vct-2
(END) Dow Jones Newswires
October 13, 2022 12:35 ET (16:35 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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